Whitecap Resources (TSE:WCP) Reaches New 12-Month High – Time to Buy?

Whitecap Resources Inc. (TSE:WCP)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$17.35 and last traded at C$17.35, with a volume of 1478834 shares traded. The stock had previously closed at C$17.07.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Scotia lifted their price objective on Whitecap Resources from C$17.00 to C$19.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 30th. Royal Bank Of Canada boosted their target price on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. Desjardins set a C$22.00 target price on shares of Whitecap Resources and gave the stock a “buy” rating in a research report on Friday, July 17th. TD raised their price target on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, ATB Cormark Capital Markets lifted their price target on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$18.55.

Whitecap Resources Stock Up 1.1%

The firm has a 50-day simple moving average of C$15.91 and a 200 day simple moving average of C$15.17. The company has a debt-to-equity ratio of 24.14, a current ratio of 0.56 and a quick ratio of 0.67. The company has a market capitalization of C$21.56 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of -0.33 and a beta of 0.16.

Whitecap Resources (TSE:WCP) last issued its earnings results on Wednesday, July 29th. The company reported C$0.73 earnings per share for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%.The company had revenue of C$2.35 billion during the quarter. On average, research analysts predict that Whitecap Resources Inc. will post 1.1226131 EPS for the current fiscal year.

Whitecap Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were given a $0.0608 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a yield of 4.1%. Whitecap Resources’s dividend payout ratio (DPR) is 65.14%.

Insider Activity

In other news, Director Grant Bradley Fagerheim bought 10,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was acquired at an average cost of C$14.46 per share, for a total transaction of C$144,600.00. Following the completion of the purchase, the director owned 3,308,099 shares of the company’s stock, valued at C$47,835,111.54. This trade represents a 0.30% increase in their ownership of the stock. Also, insider Travis Bjarne Tweit purchased 3,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of C$15.48 per share, with a total value of C$46,440.00. Following the completion of the acquisition, the insider owned 230,204 shares in the company, valued at approximately C$3,563,557.92. This represents a 1.32% increase in their position. Insiders have bought 31,500 shares of company stock worth $481,010 over the last 90 days. Company insiders own 0.84% of the company’s stock.

Whitecap Resources Company Profile

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.